The fresh jams you spread on your bread, the shampoos you use, and the juices you enjoy every day are made possible by FMCG companies.
FMCG is the acronym for Fast-Moving Consumer Goods, and it can simply be referred to as consumer goods. FMCG refers to products that are sold in large quantities, quickly, and at a relatively low price. It covers a wide range of products: food, beverages, cleaning and hygiene/beauty products, as well as stationery, hardware, and services. Because these consumer goods are consumed regularly and have become a need for us, their market has not been penalized by either the crisis or inflation.
This is also proved in a report published on VerifiedMarketReports.com. This report reveals that the FMCG market is booming with a CAGR of 5.5% and is expected to reach USD 8.7 trillion by the end of 2030 from USD 5.2 trillion in 2023.
After knowing these pompous figures, aren’t you curious to know about the top 10 global FMCG companies in 2024? We have listed the leading FMCG brands of 2024, along with their revenues and key products, to answer this curious question. Read on.
Top FMCG Companies 2024
Here is a list of 10 fast-moving consumer goods leaders in the world in 2024.
1. Johnson & Johnson
Revenue: $102.9 billion in 2022
Number of Brands: Over 100
Key Products: Pharmaceutical, medicinal, and MedTech products
Based in America, Johnson & Johnson (J&J) is a leading multinational corporation operating primarily in the healthcare sector, with a focus on pharmaceuticals, medical devices, and consumer health products.
2. PepsiCo
Revenue: $91.47 billion in 2023
Number of Brands: More than 500
Key Products: Non-alcoholic beverages and snacks
This multinational company specializes in the production of beverages and snacks. Some of its most popular brands include Pepsi, Mirinda, Doritos, Lay’s, and Cheetos.
3. Procter & Gamble
Revenue: $82 billion in 2023
Number of Brands: 65 core brands
Key Products: Mainly household products
Procter & Gamble is a multinational consumer goods company known for its wide range of household products, including Pampers, Ariel, Olay, Head & Shoulders, Gillette, and Oral-B.
4. Nestlé
Revenue: $103 billion in 2023
Number of Brands: Over 2,000 brands
Key Products: Foods and beverages like Maggi Noodles and Nescafé Coffe
The Swiss corporation includes companies that produce chocolate, dairy products, pet food, and bottled water. Nescafé, Maggi, KitKat, and Garnier are some of its best-known brands.
5. JBS
Revenue: $72.9 billion in 2023
Number of Brands: Around 30 brands
Key Products: Beef, poultry, and pork production
JBS is a Brazilian multinational company with a strong position in the global meat industry, particularly in beef, poultry, and pork production.
6. Unilever
Revenue: $74.1 billion in 2023
Number of Brands: over 400 brands
Key Products: Personal care, home care, foods & refreshment
The British-Dutch multinational produces food products such as Knorr and Ben & Jerry’s and personal care products such as Dove, Rexona, and Axe.
7. A.B. InBev
Revenue: $59.4 billion in 2023
Number of Brands: Around 630 brands globally
Key Products: Budweiser, Corona, Stella Artois, Beck’s
Anheuser-Busch InBev (A.B. InBev) is the world’s largest brewer, known for its extensive portfolio of well-known beer brands.
8. Tyson Foods
Revenue: $52.88 billion in 2023
Number of Brands: 35 brands
Key Products: Meat products
Tyson Foods is the world’s second-largest processor and marketer of chicken, beef, and pork after JBS S.A., with well-known brands such as Tyson, Jimmy Dean, Wright Brand, and Ball Park.
9. Coca-Cola
Revenue: $46 billion
Number of Brands: More than 500
Key Products: Non-alcoholic beverages
This soft-drink giant produces a variety of universally known brands such as Coca-Cola, Sprite, Fanta, and Nestea ranging from categories like carbonated soft drinks, juices, waters, sports drinks, and more. This top FMCG company has a presence in more than 200 countries.
10. L’Oréal
Revenue: $44.3 billion in 2023
Number of Brands: Around 37 international brands
Key Products: Cosmetics, hair care, skincare
L’Oréal is the world’s largest cosmetics company. It owns an extensive portfolio of brands, including L’Oréal Paris, Maybelline New York, and Armani Beauty, which cater to a wide range of consumer preferences and price points.
Mind-blowing fact: These top 10 FMCG giants collectively generate more than $1.1 trillion in sales every day and directly and indirectly employ millions of people. Isn’t it impressive?
Future Trends in FMCG
📈In 2024, the fast-moving consumer goods (FMCG) industry is poised for significant transformation. This boom will not stop in the coming years. Here are some of the most prominent trends shaping the future of the FMCG sector:
1. Digitalization and AI-Powered Solutions
A real trend that has become a purchasing habit is that consumers are paying more attention to what they buy. Whether it’s eating less meat or more organic products, many people want to consume less but better in 2024.
Therefore, FMCG companies will be more focused on the integration of artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) to gain deeper insights into consumer behavior and preferences.
2. FMCG E-Commerce and Omnichannel Strategies
With a turnover of almost 160 billion euros in 2023 (+10.5% compared to 2022), e-commerce is a solid purchasing trend.
Consumers buy from a brand’s e-commerce store or from marketplaces (Amazon or specialized marketplaces) because of the convenience, affordability, and choice offered by this distribution channel.
3. M-commerce
Among the new shopping trends, mobile is one of the most important. In the US alone, m-commerce is expected to account for over 43% of total e-commerce sales in 2024, growing to 44% by 2025.
Driven by social networks and e-commerce applications (notably Amazon), mobile purchases are particularly concerned with fashion, mass distribution, and catering. Therefore, top FMCG companies will give special attention to making their websites mobile-friendly this year.
4. Authenticity and Personalization
🔑In 2024, consumers are looking for authentic experiences and products that reflect their identity. Personalization is therefore becoming key in the product offering and the purchasing experience, thanks to customer data or artificial intelligence (chatbots, for example).
Similarly, human marketing (sustainability, commitments, inclusion, etc.) is growing, driven by a generation wanting brands with strong values.
5. Social Commerce
53% of people worldwide have bought a product using a social network such as Facebook, Instagram, or TikTok. This is a consumer trend that will continue in 2024.
FMCG brands will focus on these social media platforms to promote products, analyze consumption trends, and decode shopping habits directly from the application.
Conclusion
To sum up, Nestlé, Procter & Gamble, PepsiCo, and Unilever are among the top 10 FMCG companies in 2024 with the highest sales among others.
In addition, these top consumer goods companies are charting a course toward a more sustainable, digital, and customer-centric future, adapting to the evolving needs and expectations of consumers around the world to remain at the top for years to come.